Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Mason company uses direct labor-hours as its allocation base to compute its applied manufacturing overhead rate. The company's estimated fixed manufacturing overhead cost is

2. Mason company uses direct labor-hours as its allocation base to compute its applied manufacturing overhead rate. The company's estimated fixed manufacturing overhead cost is $1,500,000 and variable manufacturing overhead rate is $12 per direct labor hour, and total labor hours to be used is 10,000. Following tables show additional information about the company - $ 2,500,000.00 sales direct labor cost raw material purchase $ 50,000.00 $ 115,000.00 $ 150,000.00 $ 65,000.00 Actual manufacturing overhead cost $ 1.690.000.00 selling expenses administrative expenses Inventories Raw materials Work in process Finished goods Beginning Ending $10,000 $15,000 $20,000 $4,000 $45,000 $68,000 D) Suppose Mason company got a job Job A07 from the company XYZ Corp. They estimated that the job would require $2,000 for direct materials cost, $5,000 for direct labor cost, and 100 labor hours. Calculate the total cost of the job. If Mason decided to charge them 10% less than the cost of doing that job, calculate and show the price of "Job A07

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategy In Managerial Accounting

Authors: Shahid Ansari

1st Edition

0256256225, 978-0256256222

More Books

Students also viewed these Accounting questions

Question

LO3 Discuss the steps of a typical selection process.

Answered: 1 week ago